I assume they are all giving every employee the same % of equity as the founders? No?
The article very conveniently skips that whole discussion.
Oxide pays all employees $191,227 (Bay Area startup)
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Re: Oxide pays all employees $191,227 (Bay Area startup)
#32Earlier quoted context omitted.
> A senior engineer can easily make almost triple that today. Salary? Easily? Where? I've been browsing a lot of staff and principal jobs on LinkedIn recently. Some Crypto firms are around $300k, and I've seen one or two Fintech with specialized knowledge at $400k, but by far the majority are in the $200k region.
Netflix was paying Senior Engineers in Edge and Platform Engineering organizations ballpark between $300k and $500k from the last datapoint I have.
when? with thousands of good devs on the market, they no longer have any obligation to fork over the megabucks to get resumes in the door
price: its where supply and demand meet
demand isn't that high
supply is high and getting higher
at some point the CFO is going to ask why salaries are $X when people will clearly accept less
Re: Oxide pays all employees $191,227 (Bay Area startup)
#33I only spent 6 months in the Bay Area in 2019 for an internship, so I don't have a strong understanding of the cost of living other than "it's expensive". For a family of 5 (two adults, three kids) what do folks perceive to be the minimum base annual salary (with no other compensation) to support such an environment in the Bay Area comfortably and without, as put by the author, financial distress?
My perspective is the COL difference is mostly housing. There are other things that are more expensive than MCOL cities like gas, utilities, childcare, but it's pretty much housing that makes up most of the higher costs.
And housing costs are quite different between the peninsula south of SF and the East Bay, so it's not easy to answer your question.
But if the expectation is that a family of 5 owns a home and the 3 kids are in public school, I'd say a household income (base salary) of $200-$250k is where you get into the "I can afford the basics and still save for retirement" starts.
Re: Oxide pays all employees $191,227 (Bay Area startup)
#34I assume they are all giving every employee the same % of equity as the founders? No? The article very conveniently skips that whole discussion.
The article didn't skip it, you did.
Re: Oxide pays all employees $191,227 (Bay Area startup)
#35I assume they are all giving every employee the same % of equity as the founders? No? The article very conveniently skips that whole discussion.
Somewhere they said that founders and earlier employees definitely get more equity.
Re: Oxide pays all employees $191,227 (Bay Area startup)
#36"Everyone paid same as CEO" seems great as a morale boost at a startup of 23 employees. Even if it's not a lot, startups are often not flush with extra cash and equity is the main incentive to join one rather than a tech giant. I like the mature "this may not scale and it doesn't have to for now" admission.
If everyone was paid the same as the CEO, at many startups everyone would quit.
Re: Oxide pays all employees $191,227 (Bay Area startup)
#37I only spent 6 months in the Bay Area in 2019 for an internship, so I don't have a strong understanding of the cost of living other than "it's expensive". For a family of 5 (two adults, three kids) what do folks perceive to be the minimum base annual salary (with no other compensation) to support such an environment in the Bay Area comfortably and without, as put by the author, financial distress?
I'm in that situation in NYC, which is roughly comparable. The author quotes ~$190k I'd peg it at ~$250k, but both are in the ballpark. Health insurance is another ~$35-40k on top.
Re: Oxide pays all employees $191,227 (Bay Area startup)
#38> the three of us live in the San Francisco Bay Area, and Steve and I each have three kids; we knew that the dollar figure that would allow us to live without financial distress – which we put at $175,000 a year Putting aside the fact that is terrible way to determine the rate of pay for anyone, let alone every single person in a company - how on earth did they come up with such a lower number for such a high cost of…
I'm curious how they make this work in sf unless they own a home or bought a long while back.
they're all industry vets... its not a "college dropouts in an apartment" startup.
Re: Oxide pays all employees $191,227 (Bay Area startup)
#39I only spent 6 months in the Bay Area in 2019 for an internship, so I don't have a strong understanding of the cost of living other than "it's expensive". For a family of 5 (two adults, three kids) what do folks perceive to be the minimum base annual salary (with no other compensation) to support such an environment in the Bay Area comfortably and without, as put by the author, financial distress?
That depends of your lifestyle, hobbies, idea of savings for the future, holidays plans, etc, etc. I do no tthink there is a generic answer for this question.
Re: Oxide pays all employees $191,227 (Bay Area startup)
#40> the three of us live in the San Francisco Bay Area, and Steve and I each have three kids; we knew that the dollar figure that would allow us to live without financial distress – which we put at $175,000 a year Putting aside the fact that is terrible way to determine the rate of pay for anyone, let alone every single person in a company - how on earth did they come up with such a lower number for such a high cost of…
I'm curious how they make this work in sf unless they own a home or bought a long while back.
You can rent many middle class homes (4b/2b 1.7k sqft) within a 30 min. commute of their office for $3.5k - $4.5k a month. That salary after tax is $10.5k per month. That's without a partner/spouse working.